The Happiest Surprise of Retirement

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You don't have to look too far to find discouraging statistics about the state of retirement in the United States. Many people are coming into retirement with constrained financial resources as well as loads of debt, and in-retirement health-care costs are daunting.

But amid all the gloomy headlines, other retirees are quietly having the times of their lives: tackling fulfilling projects, making new friends, and relishing every night they can turn in without having to set an alarm for the following morning.

Those joys of retirement--both big and small--came through loud and clear in a recent Morningstar.com Discuss forum thread. I asked retired readers to share the happiest surprises of their retirement years, and terrific responses poured forth.

Many retirees said they were amazed at how much their stress levels came down when they dropped out of the workforce; they love being able to dictate their own schedules each day. Others were surprised at how much their health has improved during retirement, in large part because they're less frazzled but also because they have more time to exercise and prepare healthy meals. Still others--especially recent retirees--have been pleasantly surprised by the market's recent strength, and in turn their portfolios'. Despite the fact retirees are in withdrawal mode, those distributions haven't made much of a dent--if any--in their assets.

To read the complete thread or share your own happy in-retirement surprise, click here.

'I Don't Know Where I Would Find the Time to Go Back to Work'
Even as many people happily anticipate their retirements, numerous posters said they didn't expect their retirements to be as enjoyable as they have been.

You often hear that some retirees feel they lose prestige when they drop out of the workforce. But Jomil wrote, "The biggest surprise is that I don't miss working, something that I thought would happen after a lifetime of 'nose-to-the-grindstone.'"

Bujia agreed, writing, "I don't miss my profession nearly as much as I thought I would."

"I have a regular lunch date with retired work friends," wrote JSanford. "I think all of us are surprised how little we miss our old company."

But not every respondent was happy to be out of the workforce. Chief K wrote, "In my first year after retirement (10 years ago) I was surprised to find out that my 
base level of happiness/contentment 
did not change with retirement. It turned out I'm more of a 'glass half full kind of person' than I realized. So when I was offered some interesting work, after having been retired for about 15 months, I took the job."

'Not Having to Set an Alarm Clock'
A frequently mentioned happy surprise of retirement is the ability to dictate one's own schedule.

"I enjoy the relaxation of not having to set an alarm clock to get up in the morning," said BinCowtown.

Meanwhile, Cgajowski lauds "never having to drive in rush-hour traffic!" as one of retirement's happy surprises, as well as "never having to contemplate how many hours it will take to get home during a blizzard or flooding."

In a similar vein, Rule 72 enjoys not having a schedule that coincides with that of the worker bees. "We eat out before the crowds, late afternoons, and we can actually have a quiet conversation. Waitstaff never forgets us or tries to get us in and out. Occasionally [we] take advantage of the happy-hour specials before everyone else arrives."

Ohioknight enjoys "playing golf or traveling any day of the week rather than with everyone else on the weekends."

For JSanford, the psychological benefits of retirement are most acute when Sunday rolls around. "When working, as Sunday progressed, tension would begin building as you mentally prepared for a new work week. After retirement, that same tension could be felt every Sunday, diminishing slowly over the first few months of retirement. It is as though your mind can't quite believe you are done working forever. When that tension finally dissipated you finally realize just how great it is to be retired."

In addition to exerting greater control over their schedules, some retirees said they had also been happily surprised by the benefits of changing up their geographic locales.

Wrote pkduncan, "The biggest surprise for me was how well our relocation to southern New Mexico has suited my wife and me. We moved from Chicago seven years ago to this small rural community in Sierra County, bought a small farm and are doing our best to lower our economic and environmental footprints. We are building new relationships and have been well-received by the community. We love the space, and we love the pace--because we pretty much control it."

For Alpro1, "living in Florida during the winter is better than I ever had imagined."

'I Have Gone from a Type A Person to About a B+ Person'
Johnep has also been amazed by the reduction in stress level--and its effects on nearly every aspect of his life. "I was the director of a large department in an organization and had lots of stress related to budgets, performance, staff reductions and projects in my last few years of work. I did not realize how much stress I was under until I retired. I have stayed busy with volunteer work, remodeling and other activities but they are far less stressful. I have gone from a type A person to about a B+ person as I am a lot more patient, interact with people in a lot more congenial manner (previously I was very businesslike, even in a lot of personal stuff), and do not get upset with the small stuff."

Eharcher noted that the chief joy of retirement is the ability to be fully in charge of one's own life. "I am every bit as busy as I was before retirement, but with one significant qualitative difference: It is refreshing to set ones' own priorities, and work each chosen task to a satisfying quality level. Juxtapose that with the typical final years at work, which are often a blur of competing priorities and never enough time to go deep."

Stockvapors has been amazed at just how much there is to do in retirement. "I thought I would have so much time on my hands that I would be sitting and watching the clock tick. Instead, family, friends, hobbies and 'me time' have filled my life to the point where I don't know where I would find the time to go back to work even if I wanted or needed to."

The ability to work hard at times--but also kick back--counts as a happy surprise for Pkduncan. "We can be as active as we want to be with farming and volunteer work. Or, we can sit back and enjoy our property. My new motto: 'It's a good day when you have lots to do but nothing that has to get done.'" ​

'A Delightful Daily Treat'
Having more time to spend with loved ones--spouses, family, and friends--rates as a happy surprise for many retired posters.

RCSinPGH wrote, "Having breakfast and lunch with my wife is a delightful daily treat."

Cgajowski has enjoyed, "building a couple of new close friendships at this stage of the game."

Being able to spend quality time with grandkids topped several retirees' lists of their happiest in-retirement surprises.

"We have more quality time with our grandchildren than we had with our children," wrote JSanford. "When raising children, life was on fast-forward. Now we have all the time we need to spend with grandchildren. That has resulted in a priceless relationships."

For Bubbygator, geographic proximity to the wee ones (now not so wee) was a boon. "When my wife finally retired, we moved from the east coast of Florida to the west coast of Florida--to be near the kids. That was the best decision of our retirement. We both have been intimately involved in stuff the kids have done. They're getting older now, and we don't see them as much as before, but what wonderful memories."

Other posters said helping others by volunteering their time has been one of the happiest surprises of their retirements.

Retired at 48 didn't expect that one of his second careers would be helping others find their financial footing. "Now retired 20 years, the advent of the computer and my heavy-duty posting on Morningstar, trying to advise others in the financial arena, were not even foreseeable or imaginable in 1993. I am very happy when I hear from those whom I have helped."

Taylor Larimore, one of the original Bogleheads, says, "my happiest surprise in retirement is discovering how much I have learned and how much I have enjoyed helping other investors on the Morningstar and Bogleheads.org forums since 1998."

'I Am Going to Live a Lot Longer Now That I Am Taking Care of Myself'
Less stress and more time for enjoyable activities has been surprisingly beneficial from a health standpoint, several respondents said.

"I think I am a lot healthier that I was when I was working," said stockvapors. "I now have enough time to work on important things like getting enough sleep, getting exercise, and eating a healthy diet. When I was working, I spent so much time at in front of a computer that sleep suffered (due to that darned alarm clock), I never got enough exercise since I always seemed to get home after dark and I frequently ate dinner out of the snack machine in the office kitchen. Oh, did I mention stress? There was lots of tension and stress in my life. So, I think I am going to live a lot longer now that I am taking care of myself and unhooked from the corporate life."

Eharcher's retirement experience has been similar. "I'm healthier and happier," this poster wrote, "I'm running again, my unmedicated blood pressure has dropped from 185/90 to 135/85, and I am enjoying time for old hobbies and friends."

JerryE has also seen health benefits accompany retirement. "My stress levels went from 100 to 0. I no longer need sleeping pills to get a good night's sleep. I walk/run 60 to 70 miles per week instead of smoking a pack per day."

'Preparation Paid Off When the Time Came'
Other posters said they'd seen a different kind of well-being accompany their retirements: They've been more financially healthy than they expected to be.

Eharcher said that one unexpected (and happy) development is how much it's possible to trim expenses in retirement. "It is surprising what one saves by not going to work: car fuel and maintenance, business attire, meals, and so on. Ditto on food--given that there is now time to enjoy preparing meals together rather than buying so-called healthy pre-cooked stuff and pretending to enjoy it."

Meanwhile, Gatorbyter got a windfall in the form of a higher pension than expected. "[My greatest retirement surprise was] when I realized I had miscalculated my estimated pension benefit, all the years leading up to retirement, and it turned out to be a 'bank error in my favor' of an additional $14,000 per year.

Numerous posters noted that a strong market environment has lent a big helping hand to the viability of their plans.

"My retirement funds continue to earn more than I spend," wrote bujia.

Joedohio noted that, low interest rates notwithstanding, recent retirees have had it pretty good. "Low inflation and a terrific bull market are the great financial surprises. I retired in 2009 and am much wealthier today, both financially and quality of life, than I have ever been or ever expected to be."

While retiring into a weak market can be create headwinds for a portfolio's sustainability, retiring into a strong market can have the opposite effect.

Alpro1's happy retirement surprise is that "I have more in my retirement account then when I retired. My asset allocation and paying minimal fees through Vanguard is more than doing the job. It is great to look at my account now and see it over 20% higher than when I retired. I think that bodes well as a jumping-off start in retirement."

JerryE gives kudos to my colleague and Morningstar DividendInvestor editor Josh Peters for providing sensible guidance on constructing an income-producing portfolio. "Josh has significantly helped with my retirement investments, which also help me sleep better at night."

ColonelDan has been happy to see his in-retirement financial plan unfold as he had planned it would. "My happiest surprise? Always fully aware of the value of solid financial preparation, I admit to being elated at how well that preparation paid off when the time came by exceeding even my best expectations!"

Happiness can't, of course, be quantified in the same way that financial success can, but numerous posters said being retired had greatly contributed to their sense of joy and well-being.

Eharcher wrote, "I retired 10 months ago (Independence Day weekend). I bumped into my former company president three months into this new chapter who promptly asked how I was liking retirement. I replied, 'On a scale of 1 to 10, it's a 12.' With a twinkle in his eye, he immediately replied, 'I always knew you couldn't add.'"

DouglasJohnson's happiest surprise in retirement? "How just plain happy we are. Happy...happy...HAPPY!"

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